SNDK1 trade ideas
Going Long SanDisk Corporation (NASDAQ:SNDK) Is A RiskBack on July 17 of this year shares of SanDisk Corporation (NASDAQ:SNDK) took a nose dive and had a single day drop of 14%! Bulls of the data storage company were sure left out in the cold on that summers day. Over the past month SanDisk Corporation (NASDAQ:SNDK) share price has slowly moved higher but by no means is it near its all time high of $108.77. The chart of Sandisk is nearing an interesting level of $100, that is level where there is a "gap window" and will provide stiff resistance and perhaps even a short. If this short plays out the way I think then this stock could easily get smacked backed down to $98 and even as low as $95.
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Watch This Support Level On $SNDKSanDisk Corp (NASDAQ:SNDK) is a leading flash storage technology company that is coming under some selling pressure during today's trading session. SNDK is trading lower by 0.95 cents to $61.34 a share.
Day traders should watch for important intra-day support around the $60.45 level. This is a level where the stock could stage a near term bounce and offer a good opportunity for an intra day scalp trade.
Nicholas Santiago
www.InTheMoneyStocks.com